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<br /> �� U02426
<br /> , TO HAVE AND TO HoLn the same unto the Mortgagee, as herein provided. Mortgagor represents to, � � �
<br /> and covenants with, the Mortgagee, that the Mortgagor has good right to sell and convey said premises ;
<br /> ' that they are free frorn encumbrance, except as hereinotherwise recited ; that the Mortgagor will warrant
<br /> and defend the same against the lawful ciaims of all persons whomsoever. Mortgagor hereby relinquishes
<br /> all rights of homestead, all marital rights, either in law or in equity, and all other contingent interests of
<br /> � the Mortgagor in and to the above-described premises.
<br /> ' � PRovivEn ALwaYs and these presents are executed and delivered upon the follo�ving conditiona, to
<br /> il Wit : . . . . ..
<br /> � € Mortgagor agrees to ptty to the Mortgagee, or order, the aforesnid principal sum with interest from date
<br /> ; at the rate of eight and three per centum (g , 75 % ) per �,�num � tdhe u�p�id balance until paid.
<br /> . - . fo rth rst e era av3ngs and I.oan
<br /> y The said principal and interest sha�l be payable at the ofl'ice of p,ssociation of Lincol
<br /> � in Lincoln , Nebraska , or at such other place as the holder of the note may �esignate in
<br /> writing delivered or mailed to the NIortgagor, in monthly installments of ONE HUNDRED SIXTY ONE AND 27/ 100
<br /> Dollars ($ 161 . 27 ) , commencing on the first day of June , 19j8 , and continuing on
<br /> kthe first day of each month thereafter until said note is fully paid, except that, if not sooner paid, the final
<br /> + payment of principal and interest shall be due and payable on the first day of May 2008 ; all
<br /> , � acwrding to the terms of a certain promissory note of even date here�vith executed by the said Mortgagor.
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<br /> ; ; The Mortgagor further agrees :
<br /> . 1. He �vill pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any � '
<br /> time, �vithout premium or fee, the entire indebtedness or any part thereof not less than the amount of one
<br /> ; installment, or one hundred dollars ($100.00), whichever is less_ Prepayment in full shall be credited on
<br /> ; the date received. Partial prepayment, other than on an installment due date, need not be credited until
<br /> i the next following installment due date or thirty days after such prepayment, whichever is earlier.
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<br /> 2. Together with, and in addition to, the monthly payments of principal and interest payable under
<br /> + the terms of the note sec:ured hereby, Mortgagor will pay to Mortgagee, as trustee, ( under the terms of this
<br /> s trusY as hereinafter stated) on the first day of each month until said note is fully paid :
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<br /> i (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due ` ''
<br /> E and payable on policies of fire and other hazard insurance covering the mortgaged property, ��
<br /> ; plus taxes and assessments next due on the mortgaged property ( all as estimated by the Mor� , .;'
<br /> ` gagee, and of �chich the Mortgagor is notified ) less all sums already paid therefor divided by
<br /> ` 4 the numbcr of months to elapse before one month prior to the date when such ground rents, `, �r;
<br /> � premiums, taxes and assessments �vill become delinquent, such sums to be held by Mortgagee
<br /> -� in trust to pay snid ground rents, premiums, taxes and special assessments. -
<br /> ' j ( b ) The aggregate of the amounts payable pursuant to subparagraph (d) and those payable on the
<br /> � note secured hereby, shall be paid in a single payment each month, to be applied to the follow- ` - -
<br /> � ing items in the order stated : �""°�ce'
<br /> ( i ) ground rents, taxes, assessments, fire and other hazard insurance premiums ;
<br /> ; f (II ) intei•estonthenotesecuredhereby ; and
<br /> , j (1ii) amortization of the principal of said note.
<br /> � Any deficiency in the amount of any such aggregate monthl
<br /> y payment shall, unless made good
<br /> by the NIortgagor prior to the due date of the next such payment, constitute an event of default
<br /> under this rnortgage. At Mortgagee's option, DZortgagor will pay a "late charge" not exceed-
<br /> ing four per centum ( 4 % ) of any installment when paid more than fifteen ( 15) days after the '
<br /> dne date thereof to cover the extra expense involved in handling de]inquent payments, but such
<br /> "late charge" shati not be payable out of the proceeds of any sale made to satisfy the indebted-
<br /> ness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and �
<br /> all proper costs and expenses secured thereby.
<br /> � 3. If the total of the payments made by the Mortgagor under ( ¢) of paragraph 2 preceding shall
<br /> . � exceed the arnount of payments actually made by the Mortgagee, as trustee, for ground rents, taxes and
<br /> assessments or insurance premiums, as the case may be, such excess sht►il be credited by the Mortgagee
<br /> on subsequent payments to be made by the Mortgagor for auch items or, at Mortgagee's option, as trastee,
<br /> aha11 be refunded to Mortgagor. If, however, such monthly payments shall not be suflicient to pay such
<br /> items when the same shall become due and payable, then the Mortgagor shall pay to the Mortgagee, as
<br /> trustee, any amount necessary to make up the deficiency within thirty ( 30) days after written notice from
<br /> the Mortgag�ee stating the amount of the deficiency, which notice may be given by mail_ If at any time
<br /> the Mortgagor shail tender to the Mortgagee, in accordance with the provisions of the note secured
<br /> hereby, full payment of the entire indebtedneas represented thereby, the Mortgagee, as trustee, shail,
<br /> , ' � in computing the amount of such indebtedneas, credit to the account of the Mortgagor any credit balance
<br /> accumulated under the provisions of (a) of paragraph 2 hereof. If there shali be a default under any
<br /> ^ :,.� of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the
<br /> _ } Mortgagee acquires the property otherwise after default, the Mortgagee, as trustee, ahall apply, at the
<br /> r time of the commencement of such proceedinga, or at the time the property is otherwise acquired, the ,� < " � '
<br /> ` amount then remaining to credit the Mortgagor under (a) of paragraph 2 preceding, as a credit on the "`c'"�`°
<br /> � ; interest' accrued and unpaid and the balance to the principal then remaining nnpaid on said note. � "„�r `
<br /> „i 4. The lien of this instrument shall remain in full force and effect during any postponement or exten- �:' <: L
<br /> ��, . . �ion of the tirne of payment of the indebtedness or any part thereof secured hereby. � ;�, ,
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<br /> ` ' 5. He will pay all ground renta, taxes, assessments, water rates, and other governmental or munici- '��, '
<br /> ` ,,`.� pal charges, finea, or impoaitions, Ievied upon said premises and that he will pay all taxes levied upon this *;;�; "��'�`
<br /> : . ., q mortgage., or the debt secured thereby, together with any other taxea or asaessments which may be Ievied � '���
<br /> ' ;;} under the ]awa of Nebraska against the Mortgagee, or the legal holder of said principal note, on account of
<br /> 's r.'� this indebtednesa, except when payment for all such items has theretofore been made under (a) of para-
<br /> '° ° F graph 2 hereof, and he will promptly deliver the official receipts therefor to the Mortgagee. In default
<br /> ' ' "' tHereof the Mortgagee may pay the same. �
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